Offshore Energy Briefing: Wave Energy Milestone and Southeast Asian Gas Project Reaches FID

## Offshore Energy Briefing: Wave Energy Milestone and Southeast Asian Gas Project Reaches FID Two significant offshore energy developments are making headlines this week, spanning the renewable wave energy sector and conventional upstream gas production in Southeast Asia. ### Carnegie's CETO Wave Energy Unit Primed for BiMEP Deployment Carnegie Clean Energy has completed the foundation structures for its scaled CETO wave energy converter, marking a critical step toward deployment at the Biscay Marine Energy Platform (BiMEP) off the northern coast of Spain, according to Offshore Energy. The completion of the foundation represents a tangible engineering milestone for a technology that has long been regarded as one of the more promising — yet technically challenging — frontiers in marine renewable energy. BiMEP, operated by the Basque Energy Agency, serves as a dedicated open-sea test site for wave and tidal energy devices, providing grid-connected berths in real ocean conditions. Carnegie's CETO system is a submerged, pressure-differentiated wave energy converter that drives onshore turbines via high-pressure fluid, distinguishing it from surface-mounted competitors. The readiness of the foundation structures clears the path for offshore installation operations, with full deployment anticipated in the near term. The project is being closely watched by the marine renewables sector as a bellwether for the commercial viability of wave energy at scale. ### PTTEP and Valeura Take FID on Gulf of Thailand Gas Field In a significant upstream development, PTTEP Energy Development Company — a subsidiary of Thailand's PTT Exploration and Production Public Company (PTTEP) — and Canada-headquartered Valeura Energy have jointly announced a final investment decision (FID) to proceed with an initial gas development at an offshore natural gas field within Block G3/65 in the Gulf of Thailand, Offshore Energy reports. The FID signals both partners' confidence in the project's economics and technical feasibility, and the development has been characterised as a fast-track initiative aimed at accelerating first gas production. FIDs of this nature are pivotal moments in the lifecycle of any upstream project, committing capital and triggering procurement and engineering contracts across the supply chain. For Valeura Energy, which has been actively building its Southeast Asian portfolio following its acquisition of assets in the region, the decision underscores a broader strategic push to grow production in the Gulf of Thailand. For PTTEP, the move aligns with Thailand's ongoing efforts to bolster domestic gas supply and reduce dependence on imports. The block's location in the Gulf of Thailand places it within one of Southeast Asia's most established offshore hydrocarbon basins, benefiting from mature infrastructure and a well-developed regional services sector. --- *Sources: Offshore Energy*